Janet Yellen: Photo By Mark Warner

The Consumer Price Index (CPI) soared in October to 6.2 percent, according to new number released today, signaling the highest inflation rate since 1990.

As CNBC reports:

Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday.

The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago. That compared to the 5.9% Dow Jones estimate.

On a monthly basis, the CPI increased 0.9% against the 0.6% estimate.

Stripping out volatile food and energy prices, so-called core CPI was up 0.6% against the estimate of 0.4%. Annual core inflation ran at a 6.2% pace, compared to the 4% expectation and the highest since November 1990.

Fuel oil, used car prices and food costs were all significant contributors to the rise.

The numbers are likely to undermine the recent claims from the Biden administration that inflation is merely a transitory event.


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Sid S
Sid S
2 months ago

Only temporary. Just like Socialism in U.S.A.

JimN
JimN
2 months ago

CPI is up 6.2%. SS benefits are going up 5.9%. Here’s a great big “Thank You” to all the Damnocrats: Let’s go Brandon!!!

Buck Fiden
Buck Fiden
2 months ago
Reply to  JimN

Wait until you see how much of these new SS benefits will go into paying for mandatory increased Medicare part A and B costs next year.

JimN
JimN
2 months ago
Reply to  Buck Fiden

One zero dolares.

JimN
JimN
2 months ago
Reply to  JimN

Correction: latest # is two one pt six

Elsine
Elsine
2 months ago
Reply to  Buck Fiden

Exactly!!!!!!!!!!!!

K Turner
K Turner
2 months ago
Reply to  JimN

LETS GO BRANDON!!!!!

JimN
JimN
2 months ago

I have made three attempts to provide information on the Part A and B deductions and AAN has deleted each one. AAN, what are you afraid of?